EU

Turkey PM Warns War Is Near – Turkey ‘Responds To Fresh Syrian Mortar Fire’

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Imagine Turkey would be doing THIS …

– ’15,000 Strong’ Army Gathers To Take On Syria (Telegraph, Nov. 3, 2011):

An insurgent army which claims to be up to 15,000 strong is being coordinated from Turkey to take on President Bashar al-Assad of Syria, which risks plunging the region into open warfare.

… to the U.S. and not to Syria!!!

Turkey would have been bombed into the stone age a long time ago.

– Turkey prime minister warns war is near as his forces pound Syria for third day (McClatchy, Oct 5, 2012):

ISTANBUL — One day after winning blanket authority to send forces into Syria, Turkey’s prime minister warned Friday that his country is “not far from war” and said that it would be a “deadly mistake” for the Syrian government to test Turkey’s will.

– Turkey ‘responds to fresh Syrian mortar fire’ (BBC News, Oct 6, 2012):

Turkey has fired into Syria for a fourth day after a Syrian mortar landed near a Turkish village, reports say.

Turkish troops responded immediately after the mortar landed near the village of Guvecci in Hatay province, according to Turkey’s Anadolu Agency.

Turkey has been firing into Syria since Syrian mortar fire killed five Turkish civilians on Wednesday.

Read moreTurkey PM Warns War Is Near – Turkey ‘Responds To Fresh Syrian Mortar Fire’

Pro-Syria, Pro-Assad, Anti-US Protests In Turkey! (Video) – Thousands Protest For Peace After Turkey Declares War On Syria

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YouTube Added: 06.10.2012

Description:

Pro Syrien, Pro Assad Demonstrationen in der Türkei! Die Syrien Lüge (2012)
Pentagon’s Stabschef in der Türkei, Botschaft vor Demonstranten abgesperrt 17.September 2012 http://alles-schallundrauch.blogspot.de/2012/09/nach-pro-assad-demo-gleicht-a…

5,000 Turkish Chant: “No to War” in a Pro-Assad demonstration on 4th Oktober 2012 http://www.telegraph.co.uk/news/worldnews/europe/turkey/9588458/Thousands-pro…

Original Upload im März 2012 von:
https://www.youtube.com/TurkIslamAlevi

Some of the German subtitles translated into English:

“Syria, the Turkish youth is with you.”

“The US is a murder … leave the middle east America.”

“Syria is a brother – America is a traitor.”

“The Turkish nation is not a dog of the US.”

“We are the sons of a nation that has fought for its freedom.”

“We have fought for our independence, so when the imperialists attack Syria we will not be afraid to stand with our Syrian brothers.”

“Hold on Syria. The Turkish youth is with you.”

“This war will not be like the wars the ones the US has fought before. Iran, Lebanon, Hezbollah, Russia, China and the Turkish people will be taking part.”

“Down with American imperialism.”

“Slave of the USA – Recep Tayyip Erdogan.”

– Thousands protest in Turkey over Syria mandate (Telegraph, Oct 4, 2012):

Protesters take to the streets in Ankara and Istanbul after Turkey’s parliament approved military operations against targets in Syria following the deaths of five Turkish citizens from Syrian shelling.

Around 5,000 people took to the streets of Istanbul on Thursday evening in an anti-war protest which turned into a demonstration against Turkey’s ruling AK Party. Protesters chanted slogans against the war as they carried anti-government banners.

“We are going through an ugly provocation of war. The Turkish and Syrian people are not enemies, but the ruling AK Party government is trying to drag our country into a war with Syria in compliance with US interests,” said protester Nevzat Evrim Onal.

The Turkish slogan “savasa hayir” (“no to war”) was the top trending item on Turkey’s Twitter on Thursday morning.

Meanwhile, in Ankara, what started as a peaceful demonstration soon turned violent as protesters clashed with police after they tried to block them from moving around the city.

EU Sides With Monsanto In ‘GMO Cancer Corn’ Word War

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See also:

– FIRST LONG-TERM GMO STUDY: Monsanto GMO Corn & Roundup Cause Massive Tumors In Lab Animals (Video)

– French Scientists: Monsanto GM Corn Causes Tumors And Severe Liver & Kidney Damage In Rats

– Shocking GMO Study: Rats Fed Lifetime Of GM Corn Grow Horrifying Tumors, 70% Of Females Die Early

And here goes the first long-term study on the safety of GMOs:

– EU sides with Monsanto in ‘GMO Cancer Corn’ word war (RT, Oct 5, 2012):

The European Food Safety Authority has rejected a controversial study by French scientists linking GM corn to cancer. Many in Europe are already calling for stricter controls on GMOs, as farmers weigh the lucrative crops against health concerns.

­In September, French scientists from the University of Caen released a study claiming that rats fed on a diet containing NK603 – a corn seed variety made tolerant to amounts of Monsanto’s Roundup weed-killer – or given water mixed with the product at levels permitted in the United States died earlier than those on a standard diet.

The study elicited calls for stricter controls on already unpopular genetically modified (GM) crops in Europe. France had already issued a temporary ban on another Monsanto corn seed (MON810) in May due to a similar study.

However, the European Food Safety Authority (EFSA) claimed the study lacked enough specific information on Friday, and asked the scientists who conducted it to provide more details on their testing methods. The move adds to the constant back and forth in the debate over genetically modified organisms (GMOs).

Read moreEU Sides With Monsanto In ‘GMO Cancer Corn’ Word War

Turkish Parliament Authorizes Cross-Border Military Operations In Syria

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Deputy Turkish Prime Minister Ali Babacan, left-from the back, Foreign Minister Ahmet Davutoglu, second right, and Defense Minister Ismet Yilmaz, right, speak at the parliament during a debate on Turkey-Syria relations, in Ankara.(AFP Photo / Adem Altan)

– Turkish parliament authorizes cross-border military operations in Syria (RT, Oct 4, 2012):

Turkey’s parliament has authorized cross-border military operations into Syria ‘when necessary.’ The move follows a cross-border mortar-shelling into Turkey which Damascus has apologized for.

The Turkish parliament voted 320-129 in favor of the bill, though the government was quick to eliminate the perception they country preparing for a unilateral military assault.

Turkish Prime Minister Recep Tayyip Erdogan said Turkey “does not want to “start a war” with Syria while speaking at a press conference on Thursday evening .

Read moreTurkish Parliament Authorizes Cross-Border Military Operations In Syria

Did Turkey Just Declare War On Syria?

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– Did Turkey Just Declare War On Syria? (ZeroHedge, Oct 4, 2012):

Just out from the WSJ:

  • Turkey’s parliament has approved a bill authorizing the military to conduct cross-border operations in Syria, a day after a deadly shelling from Syrian territory killed five civilians

So, just how is this different to war? And how does NATO, and specifically Article 5 feel about this? What about Russia and China?

More from the WSJ:

Turkey’s parliament approved a measure proposed by Prime Minister Recep Tayyip Erdogan, giving the government broad powers to send soldiers into “foreign countries” after Turkish armed forces and Syria traded fire on Wednesday and Thursday.

The measure is valid for one year and allows Mr. Erdogan to deploy troops into Syria without consulting with the national assembly in Ankara. The measure was opposed by the main opposition Republican People’s Party, which dubbed it a “war bill.”

Read moreDid Turkey Just Declare War On Syria?

Turkey To Consider Further Military Action After Shelling Of Syria Begins

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– Turkey to consider further military action after shelling of Syria begins (RT, Oct 4, 2012):

Turkey’s military continues to shell Syria while the government awaits parliamentary approval for military operations on its neighbor’s territory after five Turkish civilians were allegedly killed by casual fire from Syria.

­Several Syrian soldiers have been killed in artillery shelling from Turkish territory on Thursday night, reports the London-based Syrian Observatory for Human Rights

Ankara has confirmed it is firing on positions of the Syrian military. Artillery strikes have been made early on Thursday morning targeting the Tel Abyad district 10 km inside Syrian territory.

Read moreTurkey To Consider Further Military Action After Shelling Of Syria Begins

Turkey Fires Artillery Shells Into Syria In Alleged Retaliation

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Flashback:

– ’15,000 Strong’ Army Gathers To Take On Syria (Telegraph, Nov. 3, 2011):

An insurgent army which claims to be up to 15,000 strong is being coordinated from Turkey to take on President Bashar al-Assad of Syria, which risks plunging the region into open warfare.

– Turkey Fires Artillery Shells Into Syria In Alleged Retaliation (ZeroHedge, Oct 3, 2012):

Following this morning’s reported shelling of a Turkish town (from Syrian lands):

  • *NINE INJURED AS SHELL FROM SYRIA LANDS IN TURKISH TOWN: NTV

The Turkish foreign ministry has held emergency talks and, according to Zaman, Turkey has now begun firing ‘warning’ shots into Syria and ‘the bombardment continues to be heavy’.

  • *TURKISH ARTILLERY BOMBARDS SYRIA IN WARNING, ZAMAN REPORTS

And it would appear things are escalating:

  • *TURKISH FOREIGN MINISTER CALLS NATO AFTER SYRIA BORDER SHELLING

On the earlier Syrian shelling of Turkey…

Read moreTurkey Fires Artillery Shells Into Syria In Alleged Retaliation

France’s Private Sector Gets Kicked Off A Cliff

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– Worse Than The Infamous Lehman September: France’s Private Sector Gets Kicked Off A Cliff (ZeroHedge, Oct 1, 2012):

This should have been an exciting moment: the Paris auto show, “Mondial de l’Automobil,” this weekend with over 100 new models from around the world, from econo-boxes with rounded corners to exotic prototypes that will never see production. Chicks next to some of them. Nausea-inducing colors, downsized motors. Something for everyone. But it had been preceded by two days of supplier events loaded with the dire verbiage of an industry that is on a death march. Particularly in France, whose private sector is veering into economic fiasco. And on Monday, it became official.

A barometer of the real economy in France, new car sales as measured by registrations, crashed in September—down 18.3% from September last year, and accelerating (year-to-date, sales were down “only” 13.9%). It was the worst September in years, worse even than the infamous Lehman September of 2008. And 2012 is shaping up to be the worst year since long before the financial crisis.

Of the French brands, market leader PSA Peugeot Citroen saw sales drop “only” 5%, helped by the introduction of its new sub-compact Peugeot 208. But year to date, sales were down 18.4%. Renault got killed. A stunning 33.4% plunge for the month and 19.8% YTD.

An equal-opportunity fiasco. Even the heroes from across the Rhine got their clocks cleaned in France. Volkswagen (VW, Audi, SEAT, Skoda) fell 17.4%. BMW and Mercedes where hit as well. GM (Opel, Chevrolet) tumbled 20.8%, Ford 31.5%. And Fiat, well, it might as well hang up its hat: down 38.4%!

Read moreFrance’s Private Sector Gets Kicked Off A Cliff

Some ‘Curious’ US And French Military Deployments

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– Some “Curious” US And French Military Deployments (ZeroHedge, Sep 29, 2012):

Regular readers are aware that periodically, usually weekly, Zero Hedge presents critical naval updates demonstrating the positioning of key US maritime assets, primarily strategic aircraft carriers. The location of these indicates far more what US foreign policy is focused on at any moment, than propaganda distributed for general consumption via the coopted media. Today, however, instead of focusing on aircraft carriers, using Stratfor analysis, we present several broad “curious” US and French military developments.

Read moreSome ‘Curious’ US And French Military Deployments

Greek Bad Loans Climb To Record 25% Of Total

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– Greek Bad Loans Climb To Record 25% Of Total (ZeroHedge, Sep 29, 2012):

It appears that in the past few weeks, the number 25% is strange attractor of bad luck for Greece. First, a month ago we learned that Greek unemployment has for the first time ever reached 25%. Now we get to see the income statement and balance sheet manifestation of a society in socioeconomic collapse – Kathimerini reports that Greek bad loans, or those which haven’t seen a payment made in over 3 months, have hit a record €57 billion, or 25% of all bank debt. “With one in every four loans not being repaid for more than three months, the bank system is feeling the pressure, leading to additional capital requirements that are expected to aggravate the state debt further.” That was Kathimerini’s spin. The reality is that just like in Spain, where between bad loans and deposit outflows, the country has become a protectorate of the ECB, which is now fully in control of its banking system, so too in Greece Mario Draghi’s tentacles are now in every bank office. Should Greece repeat the festivities of this summer and threaten to pull out of the Eurozone, the ECB will merely in turn threaten to push the red button and cut off all cash to terminally insolvent Greek banks, which of course would also mean a total halt of all deposit outflow activity. So instead what will happen is the ongoing rise in unemployment, and the increase in bad loans as percent of total, until one day the economy, even with all the money in the world pumped into it from Frankfurt, will no longer move. That day is getting very close.

Read moreGreek Bad Loans Climb To Record 25% Of Total

Fitch Warns UK Likelihood It Loses AAA Rating Has Increased

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– Fitch Warns UK Likelihood It Loses AAA Rating Has Increased (ZeroHedge, Sep 28, 2012):

One-by-one, the highest quality collateral in the world (according to ratings that is) is disappearing. To wit, Fitch warns that a downgrade of the UK’s AAA rating is increasingly likely: “weaker than expected growth and fiscal outturns in 2012 have increased pressure on the UK’s ‘AAA’ rating, which has been on Negative Outlook since March 2012.” The Negative Outlook on the UK rating reflects the very limited fiscal space, at the ‘AAA’ level, to absorb further adverse economic shocks in light of the UK’s elevated debt levels and uncertain growth outlook. Global economic headwinds, including those emanating from the on-going eurozone crisis, have compounded the drag on UK growth from private sector deleveraging and fiscal consolidation as well as from depressed business and consumer confidence, weak investment, and constrained credit growth. But no mention of unlimited QE?

Read moreFitch Warns UK Likelihood It Loses AAA Rating Has Increased

14 Signs That The World Economy Is Getting Weaker

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– 14 Signs That The World Economy Is Getting Weaker (Economic Collapse, Sep 27, 2012):

The United States is not the only one with massive economic problems right now.  The truth is that just about wherever you look around the globe things are getting even worse.  China is experiencing a substantial economic slowdown, and Japan has resorted to yet another round of money printing in an effort to keep the Japanese economy moving.  Unemployment in Europe continues to get even worse, and the riots this week in Spain and in Greece have been absolutely frightening at times.  In the United States there are a whole host of signs that another recession is approaching, and the number of American CEOs that say that they plan to eliminate jobs in the coming months is rapidly rising.  The world economy is more interconnected today than ever before, and that means that we are all in this together.  Just remember what happened back in 2008 and 2009.  The economic pain that started on Wall Street was felt in every corner of the planet.  So anyone that believes that the United States (or any other major nation for that matter) is going to escape the next wave of the economic crisis is simply not being realistic.  Why do you think central banks all over the world are in “panic mode” right now?  They are firing all of their ammunition and printing money like there is no tomorrow in an attempt to keep the system together.  Unfortunately, it is not going to work.If the powers that be had an “easy button” that would quickly fix everything, they would have pressed it by now.  But despite all of their efforts things continue to unravel.  If you want to get an idea of where we are headed,  just look at what is already happening in Europe.   Unemployment has risen above 24 percent in Greece and above 25 percent in Spain.

Those two nations are on the “bleeding edge” of the next wave of economic problems.  Unemployment is rising almost everywhere else in Europe as well, and things are eventually going to get really bad in Asia and in North America too.

So hold on to your seat belts – it is going to be a bumpy ride.

The following are 14 signs from around the globe that the world economy is getting weaker….

Read more14 Signs That The World Economy Is Getting Weaker

The taxman cometh: Hollande sets France’s ‘toughest budget in 30 years’

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– The taxman cometh: Hollande sets France’s ‘toughest budget in 30 years’ (RT, Sep 27, 2012):

The French cabinet recently approved its “toughest budget in 30 years.” The budget is a major political test for President Francois Hollande, who is resorting to a 75% tax rate on the rich combined with spending cuts to shore up budget deficits. ­France needs to make an estimated 30 billion euro in savings in its next fiscal year to reach Hollande’s ambitious target of reducing the country’s deficit from 4.5 per cent in 2012 to three per cent by 2013. The three percent figure is the EU’s mandated deficit ceiling for member-states.

The Misery In Spain Is Everywhere … And Has Never Been Higher (Chart Of The Day)

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– Chart Of The Day: The Misery In Spain Is Everywhere… And Has Never Been Higher (ZeroHedge, Sep 28, 2012):

We, just like everyone else, have grown quite tired of all phrases containing some variant of “Pain in Spain.” Which is why instead we are focusing on its Misery. As in Misery Index, defined as the combination of inflation and unemployment. Following today’s announcement of a surge in Spanish inflation which soared from 2.7% to 3.5%, trouncing expectations of a modest rise to 2.8%, it is clear to see that the Misery in Spain has never been higher.

… which for some context – is double the misery of the average European or Italian and triple that of an American…

Charts: Bloomberg

Germany Does What The SEC Hasn’t – Prepares To Ban HFT

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– Germany Does What The SEC Hasn’t – Prepares To Ban HFT (ZeroHedge, Sep 26, 2012):

The EU assembly just voted affirmatively to impose a spate of rules to control ‘high-frequency-trading that, as the WSJ reports, was advanced by Germany following their concerns that speedy traders have brought instability to markets. It is somehow reassuring that three-years after we first brought HFT to the mainstream’s agenda, at least one nation is taking it seriously, doing something about it, instead of being filibustered into the ‘liquidity-providing’ meme. The rules will initially require registration, collect fees on excessive use of HFT methods, and install circuit breakers with the goals to “limit the risks associated with high-frequency trading” per a senior German FinMin; but the more stringent rules to come will have the greatest impact as they intend to include requirements for orders to rest on the exchange book for at least half-a-second, and potentially order-to-trade ratio caps. Not surprisingly, the HFTs believe a “one-size-fits-all approach would be very harmful.” Indeed – to their profits.
Via WSJ: Germany to Tap Brakes On High-Speed Trading

BERLIN—Germany is set to advance a bill Wednesday imposing a spate of new rules on high-frequency trading, escalating Europe’s sweeping response to concerns that speedy traders have brought instability to the markets.

The measure seeks to require traders to register with Germany’s Federal Financial Supervisory Authority, collect fees from those who use high-speed trading systems excessively, and force stock markets to install circuit breakers that can interrupt trading if a problem is detected.

…

“The goal of the German law is to limit the risks associated with high-frequency trading,” he said.

Read moreGermany Does What The SEC Hasn’t – Prepares To Ban HFT

Riot Rage: Athens Protesters Throw Molotov Cocktails, Police Shoot Tear Gas (VIDEO)

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– Riot rage: Athens protesters throw firebombs, police shoot tear gas (VIDEO, PHOTOS) (RT, Sep 26, 2012):

A rally in the Greek capital turned violent when protesters in Syntagma Square lobbed Molotov cocktails at police, who retaliated by firing tear gas at the demonstrators.

Security forces also reportedly used flashbang grenades and pepper spray to push protesters back from the parliament building.

Read moreRiot Rage: Athens Protesters Throw Molotov Cocktails, Police Shoot Tear Gas (VIDEO)

Total Economic Collapse In Greece: One Third Of Athens Businesses Shuttered

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– One Third Of Athens Businesses Shuttered (ZeroHedge, Sep 25, 2012):

Two weeks ago we showed the human aspect of the absolute economic collapse in Greece (because depression is too light a word to describe what is happening in this globalist vassal collony) when charting Greek unemployment surging by 1% in one month to 24.4%, and which as of September is likely nearly 30%. What this means in practical tax revenue terms (if the tax collectors were actually doing their job collecting taxes, instead of striking) is that there is nobody generating any economic products and services, and thus no state revenues. Today, Kathimerini confirms this, in a report that almost a third of all business in Athens have now shuttered: “The number of shuttered shops on the capital’s busiest commercial streets, Panepistimiou and Stadiou, also hit a record high in August, reaching 34.7 percent on Panepistimiou and 42 percent on Akadimias, up 14 percent in the last six months.” And so the close loop continues as fewer businesses are around to hire less people, generating less state revenue, encouraging less businesses to open and so on, until the entire country collapses in a heap of worthless debt.More:

Greece’s deep recession has forced almost a third of businesses in the capital’s commercial district to close down as shrinking incomes and frequent strikes drive Athenians away.

Tens of thousands of small businesses, which make up a big chunk of the struggling economy, have shut since Greece secured a 110-billion-euro bailout package in 2010 in exchange for promises of painful austerity measures.

Read moreTotal Economic Collapse In Greece: One Third Of Athens Businesses Shuttered

Is Draghi’s Bond-Buying Dream Circling The Drain As ECB/Bundesbank Lawyer Up?

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– Is Draghi’s Bond-Buying Dream Circling The Drain As ECB/Bundesbank Lawyer Up? (ZeroHedge, Sep 24, 2012):

Following closely on the heels of our recent (now must read) discussion of the potential illegality of Draghi’s OMT, Reuters is reporting the somewhat stunning news that the ECB and Bundesbank are getting lawyers to check the legality of the new bond-buying program. Germany’s Bild newspaper – via the now ubiquitous unnamed sources – said in-house lawyers were checking both what proportions the program would have to take on and how long it would have to last for it to breach EU treaties (that specifically ban direct financing of state deficits).While Draghi – full of bravado – likely said whatever he felt was necessary at the time to stop the inversion in the Spanish yield curve, it is becoming clearer that, as usual, the premature euphoria (in the complacent belief that central banks can solve every problem with a wave of the magic CTRL-P wand) was misplaced.

Bild goes on to note that this matter could be referred to the European Court of Justice – and the ECB/Buba were preparing for such an event. Of course, since every other rumor in recent months, most of which have originated in credible media, has proven to be a lie, it is likely this is also merely leaked disinformation to push the German case, i.e. anti-Europe.

Via Reuters:

BERLIN, Sept 25 (Reuters) – The European  Central Bank and Germany’s Bundesbank central bank are getting lawyers  to check the legality of the ECB’s new bond-buying programme, a German  newspaper said on Tuesday.

German tabloid Bild, which did not name  its sources, said ECB and Bundesbank in-house lawyers were checking  both what proportions the programme would have to take on and how long  it would have to last for it to breach EU treaties.

Read moreIs Draghi’s Bond-Buying Dream Circling The Drain As ECB/Bundesbank Lawyer Up?

Spanish Military Threatens Treason As Catalonia Seeks Secession Referendum

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– Spanish Military Threatens Treason As Catalonia Seeks Secession Referendum (ZeroHedge, Sep 24, 2012)

“Do not play with the feelings of the Catalans” is the totally unveiled threat after Catalonia’s beggars-can-be-choosers demand for an unconditional bailout fell on deaf ears. The traditionally separatist-minded province has decided, according to ANSAmed, has decided to pull a Greece – and escalate with a move to secession. A resolution, on the right of the Catalan people to cut off ties with the Spanish state, will be voted on Thursday by the regional parliament.

This statement of “the will of Catalan people to vote on the bond with the State of Spain” opens the way for forthcoming elections on November 25 to become a referendum on the sovereignty of Catalonia.

The Spanish military are not taking this lying down with the counter-threat that these ‘separatists’ and their ‘inappropriate and unacceptable’ threat to break-up Spain shall be, according to El Economista, charged with high treason. We are sure Draghi has a ‘grand plan’ for this.

Read moreSpanish Military Threatens Treason As Catalonia Seeks Secession Referendum

AND NOW …. Quadrupling The Euro Bailout Fund: ESM To Be Leveraged To 2 TRILLION Euros (Focus/Spiegel)

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German TRAITOR Finance Minister Wolfgang Schäuble is in favor of leveraging the ESM. Here, during his 70th birthday celebrations last week.

– Up to Two Trillion: Europe Plans to Leverage Euro-Zone Bailout Fund (Spiegel, Sep 24, 2012):

Officially, the ESM permanent euro-zone bailout fund is worth 500 billion euros. That, though, might not be enough, which is why euro-zone governments are now planning to introduce levers that could mobilize up to 2trillion euros, SPIEGEL has learned. Finland, though, is skeptical of the idea.

With the launch of the permanent common-currency bailout fund, the European Stability Mechanism (ESM), just around the corner, euro-zone member states are looking into ways to leverage the €500 billion ($647 billion) available to the fund, SPIEGEL has learned. But with Finland still concerned about the leveraging plans, it is unlikely that they will be initially included when the ESM is launched on Oct. 8.

The plan envisions the continuation of leverage instruments currently in use in the temporary euro bailout fund, the European Financial Stability Facility (EFSF). Should they be applied to the ESM, the permanent fund could be able to mobilize up to €2 trillion instead of the €500 billion lending capacity it currently has — a size that would make it easier to provide emergency aid to countries as large as Spain and Italy, for example.

Google translation (Original article in German down below.):

– Quadrupling of the euro rescue fund: ESM should be leveraged to two trillion euros (Focus, Sep 24, 2012):

The euro countries prepare before one allegedly leverage the ESM permanent bailout fund. To save even large countries like Spain and Italy, as opposed to its planned 500 billion euros will be available two trillion euros.

Whether to increase the financial cushion reported the news magazine “Der Spiegel” on Monday. Model for the leverage of aid accordingly, the provisions of the predecessor fund EFSF. There are two tools in which the bailout fund with public money can only take on the most risky parts. The rest of the money will come from private investors, which must go into limited risk. However, the concept was the EFSF not apply because there are no private investors found.

Read moreAND NOW …. Quadrupling The Euro Bailout Fund: ESM To Be Leveraged To 2 TRILLION Euros (Focus/Spiegel)

Spain’s Latest Bailout Plan – Lottery Bonds

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– Spain’s Latest Bailout Plan – Lottery Bonds (ZeroHedge, Sep 23, 2012):

Just when we thought Europe has already used the kitchen sink and then some in its arsenal of bailout ideas, here comes Spain proving there is always “something else.” Bloomberg reports that the insolvent country which is not really insolvent as long as people keep buying its bonds on hopes it is insolvent, is launching “lottery bonds”. To wit: Spain to sell bonds through state-run lottery operator to fund regional bailouts, two people familiar with the matter told Bloomberg’s Esteban Duarte and Ben Sills. The issue is part of €6 billion financing through Sociedad Estatal Loterias & Apuestas del Estado which is raising syndicated loan. Loterias official said financing details haven’t been completed. In other words, the national lottery, which as in Spain so everywhere else, is nothing but an added tax on a country’s poor population but one which provides at least a tiny hope of a substantial repayment (which never happens for the vast, vast majority of players) so few actually complain about paying it, is about to shift the bailout cost to the nation’s poorest. Who benefits? Why Spiderman towel makers of course. And insolvent banks.

Read moreSpain’s Latest Bailout Plan – Lottery Bonds

Government Cracks Safe-Deposit Boxes

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See also:

– US DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS – IN WRITING – IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SEIZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!

– James G. Rickards of Omnis Inc.: Get Your Gold Out Of The Banking System


GB: Gewaltsame Öffnung von Schließfächern – UK: Violent opening of safes

Google translation (Original article in German down below.):

– State cracks lockers (MMNews, Sep 18, 2012):

In Germany, lockers are scarce. Customers imagine their assets in the bank vaults in safety. But appearances are deceiving. In the UK, 7000 lockers were forced open on suspicion of money laundering and crime.

The surveillance state proposes to worldwide. In Switzerland, the banking secrecy was practically abolished. In Germany, we are long since debit technically in total surveillance state: authorities-touch access to all accounts. More and more customers therefore rent a locker to put their assets in front of Bank and State security. According to a report in the Frankfurter Rundschau now even the private vaults in the banks are scarce. But this security could be deceptive.

Read moreGovernment Cracks Safe-Deposit Boxes

Greece Caught Underreporting Its Budget Deficit By Nearly 50 Percent

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– Greece Caught Underreporting Its Budget Deficit By Nearly 50% (ZeroHedge, Sep 23, 2012):

There was a time about a year ago, before the second Greek bailout was formalized and the haircut on its domestic-law private sector bonds (first 50%, ultimately 80%, soon to be 100%) was yet to be documented, when it was in Greece’s interest to misrepresent its economy as being worse than it was in reality. Things got so bad that the former head of the Greek Statistics Bureau Elstat, also a former IMF employee, faced life in prison if convicted of doing precisely this.A year later, the tables have turned, now that Germany is virtually convinced that Europe can pull a Lehman and let Greece leave the Eurozone, and is merely looking for a pretext to sever all ties with the country, whose only benefit for Europe is to be a seller of islands at Blue Aegean water Special prices to assorted Goldman bankers (at least until it renationalizes them back in a few short years). So a year later we are back to a more normal data fudging dynamic, one in which Greece, whose July unemployment soared by one whole percentage point, will do everything in its power to underrepresent its soaring budget deficit.

Case in point, on Friday the Finance Ministry proudly announced its budget deficit for the first eight months was “just” €12.5 billion, versus a target of €15.2 billion, leading some to wonder how it was possible that a country that has suffered terminal economic collapse, and in which the tax collectors have now joined everyone in striking and thus not collecting any tax revenue, could have a better than expected budget deficit. Turns out the answer was quite simple. According to Spiegel, Greece was lying about everything all along, and instead of a €12.5 billion deficit, the real revenue shortfall is nearly double this, or €20 billion, a number which will hardly incentivize anyone in Germany to give Greece the benefit of another delay, let along a third bailout as is now speculated.

To quote Greg House: “Everybody lies”

From Spiegel:

The gap in the Greek national budget is greater than previously expected. According to a preliminary Der Spiegel finding, the troika of European Commission, European Central Bank and International Monetary Fund reported that the government of Prime Minister Antonis Samaras is missing currently around 20 billion euros – nearly twice as much as last admitted. Only if the funding gap is closed, the next EU tranche will be transferred to Athens.

Read moreGreece Caught Underreporting Its Budget Deficit By Nearly 50 Percent